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| Benefits & Administration |
| Raytheon Transfers Nearly $1B in Pension Obligations to Prudential |
| Raytheon announced that it will reduce its pension obligations by $923 million, through the purchase of a group annuity contract from The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. According to details shared by both firms, the agreement transfers the responsibility for paying certain pension benefits to approximately 13,000 U.S. retirees, as well as their beneficiaries, from Raytheon’s previously discontinued operations.Read more > |
| Four Multiemployer Pension Plans Apply to Reduce Benefits |
| Four multiemployer pension plans have applied to the Department of the Treasury to reduce their benefits, saying that if the reductions are not made, their funds will become insolvent. They are seeking reductions as high as 50%.Read more > |
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| Products, Deals and People |
| Retirement Industry People Moves |
| Portfolio Management Program Joins LPL Platform; Catawba Capital Joins CAPTRUST; GAM Investments Appoints Managing Director; and more.Read more > |
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| Economic Events |
| THE ECONOMIC WEEK AHEAD: Tomorrow, the Conference Board will reveal its Consumer Confidence Index for July. Wednesday, the Census Bureau will report about construction spending in June. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about factory orders for June. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for July. |
